European Investment Firms Ink $3B Fund Joint Venture

Law360, New York (February 11, 2014, 4:47 PM EST) -- European investment firms La Francaise and Tages Capital Group plan to partner to launch a fund of hedge funds worth $3 billion, according to a Tuesday statement.

The joint venture calls for Paris-based La Francaise to take up a 40 percent stake in Tages Capital and delegate the management of roughly $1 billion of its current funds of hedge funds and UCITS funds to the London-based Tages Capital, which currently has about $2 billion under management, the companies said.